Post Utme Coal City University 2021 Accounting Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2021 Accounting Objective / Multiple Choice
Question 1 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₦10,000. The accountant suspects that the error is due to an incorrect posting of a transaction. The transaction involved a sale of goods for ₦50,000, and the accountant believes that the error is in the debit or credit column. What is the most likely cause of the error?

Answer Options

A. The error is due to an incorrect debit of ₦50,000.
Correct Answer B. The error is due to an incorrect credit of ₦50,000.
C. The error is due to an incorrect posting of a transaction.
D. The error is due to an incorrect calculation of the trial balance.
Correct Answer
B
Correct Option:
The error is due to an incorrect credit of ₦50,000.

About This Question

This is Post Utme Coal City University 2021 Accounting Question 1. It is one of the objective questions from the 2021 Post Utme Coal City University Accounting examination.

View More Post Utme Coal City University 2021 Accounting Questions More Post Utme Coal City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support